You can even record liabilities and manage their periodic payments, ensuring a consolidated picture of your true net worth. Track any investment with commitments, drawdowns, distributions, recallable with cost / tax basis adjustments.
If you’re looking to consolidate investment data, manage accounting and store your documents all on one platform, the Asset Vantage platform is the perfect solution. Our fully managed book-keeping, reconciliation, and reporting service freed up a Florida-based SFO’s internal team to focus on making financial decisions. Streamline your family office’s tax write off bill payment and expense management functions using built-in check writing, ACH and wire payment methods, comprehensive expense reporting and sophisticated bill payment approval structures. Based on a core general ledger, the Archway Platform automatically creates the underlying journal entries behind complex back-office operations including investment activity, cash management and treasury functions, bill payment and partnership tracking.
These advancements offer automated data processing, generative AI and intelligent insights, reducing manual workload and allowing staff to focus on the office’s priority – achieving the goals of the family it serves. UK-based Landytech’s helps family offices use data aggregation and analytics to make informed investment decisions. The platform, Sesame, also offers portfolio management, cashflow management, and reporting features. Addepar empowers family offices, financial advisors, and individual wealth owners to use data to make informed decisions.
Streamline document management by linking them directly to assets, accounts and entities, adding personalised tags and securely sharing through platform. With AV you gain access to our new AI driven technology, allowing you to query the system for financial and investment insights. We’re always working on keeping our family office software relevant and bringing you the latest technology to stay ahead. Given our Software-as-a-Service (SaaS) structure, you will always have the latest product upgrades, automatically pushed to your system. AV’s partnership accounting feature provides clients with the ability to account for and manage their family investment partnerships.
Streamlined Billing, Plus Calculation Insights
- The Archway Platform’s mobile client portal provides family members with on-demand access to their net worth information through interactive dashboards, configurable data views and a secure document sharing tool.
- At Eton Solutions, we foster collaborative partnerships and provide valuable resources to empower our ecosystem partners.
- The emergence of new wealth and an increasingly complex business environment have driven the recent growth of single family offices.
- Eton Solutions offers a variety of services and products that expand your administrative capabilities, improve your access to current data about your assets and net worth, and let you choose the level of investment, advisory, and tax support you need.
- It’s helpful to work with trusted advisers and specialist firms when choosing accounting software.
Eton Solutions has reimagined each intricate process of a family office into AtlasFive®, a fully integrated secure cloud native AI-driven platform. A family office serves many different roles for its clients, and no two family offices are structured exactly alike. AtlasFive® platform is highly customizable to fit your office’s needs and be the sole platform you use. The platform improves efficiency filing tax form 1099 as well as trust—in the data, in the process, and in the reporting. Embedding your office’s workflows into AtlasFive® can expedite all functions a family office provides to its clients. Founded in Zurich, Switzerland in 2017, ORCA’s software offers data aggregation, reporting, document management features, and more.
How to select the best family office accounting software
Tailor a custom multi-currency chart of accounts across entities that aligns with your internal family office operations and reporting. Seamlessly manage sophisticated family office ownership structures including master-feeder, fund-of-funds and nested entities to provide clear, concise look-through reporting across individuals, households and generations. Now that you have a clear service provider in mind, you must get buy-in from the rest of the office staff and family members. Most staff would rather be doing more meaningful work that’s more valuable to the family than processing data manually.
Here are the top 5 features to look for in your family office management software. Our integrated technology platform and managed services enabled a Houston-based Multi-Family Office to provide their principals with seamless operations through timely and accurate reporting. SEI’s Archway Platform includes a highly configurable report library of 200+ report templates ranging from traditional financial statements to asset allocation, investment activity, performance and risk reports, allowing family offices to build a customized reporting experience. RSM, a global assurance and tax consulting firm, can advise on the best technology available today.
Graduate from spreadsheets to all-inclusive family office software
Whether you’re a single-family office or managing diverse portfolios for multiple families, our list aims to guide you in selecting the best family office software to streamline operations and drive sustainable growth. We deliver comprehensive accounting material ready for direct submission to your auditor or seamless integration into your accounting system. Knowing that an experienced partner is managing this crucial task provides peace of mind. AV’s family office software is a single point of book-keeping built on global IFRS and GAAP standards ensuring seamless integration of the GL with the investment book. AV can bring together all liquid and illiquid investments, income and expenses, liabilities and equity holdings in a seamless and simplified way with tax-lot level reconciliation for tradeable assets. Easy, efficient, and consistent data capture is designed to save time and reduce errors.
Eton Solutions enables family office professionals to focus on higher value tasks, de-risk operations in a highly secure and scaled access managed environment. With economic uncertainty, offices need improved day-to-day insight and analytics for their investment portfolio strategies what are financial records definition and meaning to be effective. Ledgex, an accounting platform for family offices, offers advanced analytics and richer reporting with tight integration with proven accounting tools to help you achieve your investment goals.
Why do I need family office software?
Therefore, your office should be the central hub that service providers plug into, not the other way around. The rise of AI offers family offices the ability to make a bigger tech leap to improve operations, enhance the decision-making process and ensure they can fulfil their primary objective of wealth creation. Family offices have different goals and resources, which is why we offer comprehensive service options to our clients. Choose the support you need, when you need it — investment support, general ledger assistance, investment management support, and more.